[Answer] Participation of the NJ Guaranty Associations is?Mandatory for any Authorized InsurerRequired by Law for the policyholder to participateOptional to the Insured if they elect to pay the premiumRequired and the policyholder contributes to the fund annually

Answer: Mandatory for any Authorized Insurer

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Participation of the NJ Guaranty Associations is?Mandatory for any Authorized InsurerRequired by Law for the policyholder to participateOptional to the Insured if they elect to pay the premiumRequired and the policyholder contributes to the fund annually Notice: Electronic Billing. Effective September 1 2019 for auto medical billing and November 1 2019 for workers’ compensation medical billing the New Jersey Property-Liability Insurance Guaranty Association will accept electronic medical bills for payment on standardized forms in accordance with the laws and guidelines established by the State of New Jersey . Welcome Welcome to the New Jersey Life & Health Insurance Guaranty Association (NJLHIGA) Web site. We hope you find this site helpful in providing information regarding the purpose of the Guaranty Association and how it protects resident policyholders in the event of an insurance company insolvency. The New Jersey Life & Health Insurance Guaranty Association was created by the New Jersey legislature in 1992 (with an effective date of January 1 1991) to protect state residents who are policyholders and beneficiaries of policies issued by an insolvent … A fourth entity the Unsatisfied Claim and Judgment Fund (“UCJF”)administers claims associated with uninsured motorists and uninsured pedestrians. Notice: DPR Plan Revision. The New Jersey Property-Liability Insurance Guaranty Association's revised DPR Plan (effective 11/15/2017) can be found in the links section of this site. The Workers’ Compensation Security Fund (“WCSF”) was created pursuant to N.J .S.A. 34:15–103 et seq. This statute establishes a pool of money to pay claims of insolvent workers’ compensation insurance carriers arising from coverage of risks located or resident in New Jersey . ...

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